Full-Time
Head of CRA
Credit Reporting Agency
Confirmed live in the last 24 hours
Socure
201-500 employees
Digital identity verification and fraud prevention
Compensation Overview
$230k - $290kAnnually
Expert
Remote in USA
Remote position available for candidates based in the USA.
You match the following Socure's candidate preferences
Employers are more likely to interview you if you match these preferences:
- Bachelor’s degree in Business, Law, Finance, or a related field is required. An advanced degree (MBA, JD, or equivalent) is strongly preferred.
- Deep understanding of the Fair Credit Reporting Act (FCRA), Consumer Financial Protection Bureau (CFPB) regulations, the Gramm-Leach-Bliley Act (GLBA) and other relevant state and federal laws impacting CRAs and being able to articulate the differences between those. Familiarity with global privacy laws (e.g., GDPR) that affect consumer data is a plus.
- Minimum of 10 years of professional experience, with at least 5 years in a leadership role related to credit reporting, financial services, fraud prevention, or a closely related field. Experience in navigating the regulatory landscape of consumer reporting agencies is essential.
- Proven track record in strategic planning and execution, including the development and management of a comprehensive rollout plan within the financial services or tech industry.
- Strong financial management skills, including budgeting, forecasting, and data \ resources investments management
- Experience in building teams from the ground up and fostering a culture of innovation and collaboration.
- Exceptional communication abilities, with the skill to articulate complex regulatory and technical concepts to a variety of audiences, including senior executives, regulatory bodies, and non-technical stakeholders.
- Experience in stakeholder management, with the ability to navigate complex regulatory environments and build relationships with key industry players, including regulatory agencies and strategic partners.
- High degree of adaptability and flexibility to navigate the changing regulatory and technological landscape of digital identity and credit reporting.
- Strong ethical standards and a commitment to compliance and data protection principles. Understanding of the importance of consumer rights and accuracy in reporting.
- Ability to travel on an ad-hoc basis.
- Collaborate with Socure's executive team for the design and execution plan for the development and roll out of Socure’s CRA as a cornerstone of Socure's long-term strategy.
- Develop, manage, and oversee the budget and financial forecasts specifically allocated for the CRA project. Track key performance metrics related to the initiative, making data-driven decisions to optimize resource allocation and ensure financial viability and success.
- Functional leadership of a dedicated team for the CRA project, including data engineers, legal and compliance specialists, and customer support staff. Foster a culture of innovation, collaboration, and excellence. Help recruit and hire top talent, building a team capable of navigating the complexities of CRA formation.
- Develop and maintain a detailed roadmap for CRA formation covering the operational, legal, and technical components, ensuring alignment with Socure’s broader strategic goals. Regularly present this roadmap and its progress to C-Level leaders and other stakeholders, holding responsibility for its execution. Identify areas where we can partner with other service providers \ vendors to accelerate the CRA formation efforts.
- Keep abreast of market dynamics, customer needs, and regulatory changes, adjusting strategies accordingly to maintain and enhance Socure’s competitive edge.
- Champion innovation within the CRA formation initiative, encouraging creative problem-solving. Ensure all products and processes comply with FCRA and other relevant regulations and be able to speak to them, turning compliance into a competitive advantage.
- Serve as the primary evangelist for Socure’s CRA services, representing Socure at press activities, conferences, and industry discussions. Engage with thought leaders and market analysts to position Socure as a pioneer in the integration of identity verification and credit reporting.
- Maintain an expert level of understanding of trends, controls, and regulatory developments in the CRA domain. Use this knowledge to inform product development, Infrastructure and data segregation models, and strategic decisions.
- Oversee the development of robust, scalable infrastructure capable of supporting CRA operations, including data management, consumer dispute resolution, and secure access protocols. Prioritize flexibility and robustness to adapt to evolving regulatory and market needs.
- Interpret quantitative results from CRA operations and translate them into strategic insights for internal and external stakeholders. Conduct peer reviews and build strong relationships with all stakeholders, ensuring transparency and alignment on objectives.
- Work with SME’s across legal, compliance, product as well as our customers to define, build, recruit and operationalize a consumer disputes program. Influence build\buy\partner decisions and develop business cases for all CRA related investments.
- MBA, JD, or similar advanced degrees.
- Experience working with large data sets and graph databases
- Extensive experience in product lifecycle management, from concept to launch, including defining product specifications, working with R&D, and ensuring product-market fit.
- Familiarity with data science and machine learning applications in the context of fraud prevention and credit scoring. Ability to collaborate effectively with engineering teams to guide the development of technical solutions.
Socure focuses on digital identity verification and fraud prevention for financial institutions like banks and credit unions. It uses machine learning and algorithms to analyze customer data and assess fraud risk, with its Sigma Fraud Score being a key product that detects fraudulent activity. The company operates on a subscription model, providing clients with ongoing access to its tools and updates, while also helping them comply with regulatory requirements through Customer Identification Programs. Socure's goal is to enhance security and reduce fraud risk for its clients.
Company Size
201-500
Company Stage
Debt Financing
Total Funding
$629M
Headquarters
New York City, New York
Founded
2012
Simplify's Take
What believers are saying
- Socure's acquisition of Effectiv enhances its fraud prevention capabilities.
- The First-Party Fraud Consortium has compiled data on 190 million identities.
- Socure is recognized as a fast-growing tech company on Deloitte's Fast 500 list.
What critics are saying
- Sophisticated BEC attacks challenge Socure's fraud prevention capabilities.
- Deepfakes and social engineering tactics may undermine Socure's solutions.
- Integrating Effectiv's platform may disrupt existing services.
What makes Socure unique
- Socure's Sigma Fraud Score is renowned for its fraud detection accuracy.
- The First-Party Fraud Consortium unites industry leaders to combat a $100B fraud problem.
- Socure's Device Risk solution enhances security by verifying device authenticity.
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Benefits
Competitive salary & equity
Comprehensive medical, dental, & vision coverage
FSA
Parental leave
401k
Life insurance
PTO
Growth & Insights and Company News
6 month growth
↑ 1%1 year growth
↑ 0%2 year growth
↓ -1%INCLINE VILLAGE, Nev., Jan. 13, 2025 /PRNewswire/ -- Socure , the leading artificial intelligence (AI) platform for digital identity verification, sanction screening, and fraud prevention today announced the addition of three new executives to its leadership team. These appointments underscore Socure's commitment to innovation, being the place for domain experts to do their life's best work, and a continued emphasis on raising the talent bar even through hypergrowth.Krisan Nichani, Head of Product StrategyKrisan Nichani joins Socure as Head of Product Strategy. In this role, Nichani will lead the development of product-centric go-to-market strategies, align product offerings with market needs, and drive various teams to deliver cross-product innovations through Socure's RiskOS platform. Additionally, he will own prioritizing customer insights and emerging market trends to shape roadmaps, acquisitions and deliver solutions that address evolving identity AML and fraud challenges.Nichani brings over 15 years of experience in compliance and risk management. Prior to joining Socure, he served as General Manager of Compliance and Chief Risk Officer at Sardine/Sonar, overseeing go-to-market efforts, product development, and strategy
Company Hosts Awards Live for First TimeSCOTTSDALE, Ariz., Dec. 31, 2024 /PRNewswire/ -- Cornerstone Advisors, a leading management and technology consultancy for banks, credit unions and fintech firms, has announced its 24th Annual GonzoBanker Awards, the company's iconic tribute to notable people, companies, technologies and deals in the banking and fintech industries.According to Steve Williams, Cornerstone CEO, banks and credit unions demonstrated remarkable performance this year in the face of accelerating complexity on many fronts, not the least of which was a difficult economic environment. "We salute the 'troublemakers' in the industry who balanced fundamental and complex challenges while continuing to improve customers' financial lives," said Williams.Award categories included the Smarter Banks Awards, designed to celebrate extraordinary financial institutions that have modernized their businesses and grown in focused and strategic ways. These included:The Smarter Bank Hyper-Efficient Award , recognizing groundbreaking efficiency driven by digital self-service, process automation and artificial intelligence, went to Space Coast Credit Union in Melbourne, Fla. Under the leadership of CEO Tim Antonition , the credit union has demonstrated how leaning into new approaches to efficiency can yield a 2.5% non-interest expense/asset ratio in a full-service community credit union.digital self-service, process automation and artificial intelligence, went to Space Coast Credit Union in Under the leadership of CEO , the credit union has demonstrated how leaning into new approaches to efficiency can yield a 2.5% non-interest expense/asset ratio in a full-service community credit union. The Smarter Bank Differentiated Award , recognizing institutions that forge distinct competitive positions and segmented brands, went to CEO Ken Vecchione and the team at Western Alliance Bancorporation
Technology begets opportunity, for both successful companies and fraudsters. And today’s rising tide of cybercrime has unveiled a new frontier of fraud, one where malicious entities and cybercriminals are focused on exploiting the building blocks of digital identity—domain names, hosting services and financial supply chains. Among these threats, business email compromise (BEC) attacks have evolved with a level of sophistication that is reshaping how companies must defend themselves. Traditional BEC scams often relied on impersonating high-ranking executives or key suppliers. A simple email requesting a wire transfer might have been enough to dupe unsuspecting employees. However, the modern iteration is far more nuanced and multilayered, as phishing attempts get a shot in the arm from the democratization of advanced technologies like artificial intelligence (AI)
Socure, the leading provider of artificial intelligence for digital identity verification, sanction screening, and fraud prevention today announced significant milestone achievements for its First-Party Fraud Consortium. The first of its kind, the consortium seeks to unify companies to tackle the complicated, multi-industry issue of First-Party Fraud by pooling data and insights which allow them to detect and stop fraud before it takes hold. The groundbreaking initiative has amassed data intelligence encompassing 190 million contributed identities, 121 million of which are unique identities, 325 million accounts, and 20 billion transactions, marking an unprecedented collaboration in financial services history.First-Party Fraud, sometimes referred to as “friendly fraud,” occurs when individuals use their own identity to commit dishonest acts for financial gain, such as disputing legitimate ATM withdrawals or debit or credit card transactions for goods they never intended to pay for. These consumers are succeeding to the tune of billions of dollars, with annual First-Party Fraud losses in the U.S. alone totaling more than $100 billion, according to Socure’s research. The consortium’s first-of-its-kind data sharing initiative enables members to detect and prevent these fraudulent activities through rapid analysis of dispute histories, payment denials, and account closures across multiple platforms.The consortium, whose founding members include five of the top 10 FI’s in the U.S., as well as FinTech industry leaders such as Dave.com, SoFi, Green Dot, and Varo, represents the first time that major financial institutions, fintechs, payment platforms, sports betting companies, and merchants have united to share data and insights to combat First-Party Fraud.“First-Party Fraud has evolved into a $100 billion crisis that traditional fraud prevention methods simply cannot address,” said Ori Snir, Head of Product Management, Fraud & Identity Solutions at Socure.“By bringing together the industry’s leading financial institutions and platforms, we’ve created an unparalleled network effect that enables us to identify and stop fraudulent behavior before it can take root across multiple platforms
Socure says it has reached a milestone in its collaborative effort to combat “friendly fraud.”. The identity verification firm last year formed the First-Party Fraud Consortium, a group of companies that came together to battle the type of fraud — also known as friendly fraud — that happens when people use their own identity to carry out dishonest acts for financial gain. Now, Socure says the group has compiled data intelligence covering 190 million contributed identities, 121 million of which are unique identities, along with 325 million accounts and 20 billion transactions, “marking an unprecedented collaboration in financial services history.”